Q: But doesn't he have a responsibility to his shareholders not to overpay taxes?
A: These are his personal taxes. He doesn't have a fiduciary responsibility to himself, so he doesn't have to do shit.
Q: But aren't a lot of Trump Organization entities closely tied to his taxes?
A: He signed some personal guaranties on some loans, which is pretty much the dumbest thing a businessperson can do, but... still no. He doesn't have a responsibility, in his personal capacity, to minimize his taxes.
Q: But what if these were corporate taxes?
A: He has two duties: the duty of loyalty and the duty of care. Basically, he has the duty not to make crazy decisions -- they have to be informed by the facts in some way or another -- and a duty not to engage in self-dealing.
Which he regularly violates by robbing his partners, but let's not really get into that.
Q: Is this normal?
A: Taking a billion dollar loss? Uh. No. In fact, in 1995, Trump personally took 2% of the United States' entire corporate losses that year. That's amazing.
Q: Is this why Trump won't release his taxes?
A: Actually, Trump won't release anything about his taxes. He won't release the taxes which are under audit, he won't release the taxes that aren't under audit, and he won't even prove that he's under audit by submitting the audit letter.
Q: What could he possibly be hiding?
A: I have no idea. Something sufficiently bad that he's willing to take his failure to pay any taxes whatsoever on tour.
- Merchant Marine, present
- Battle Ground High
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